Shareholders' Equity

3 Months Ended

Mar. 31, 2025

Stockholders' Equity Note [Abstract]

Shareholders' Equity

NOTE 17. SHAREHOLDERS’ EQUITY

Common Stock Repurchase Plan

On July 29, 2016, our Board of Directors approved our share repurchase program authorizing us to repurchase up to $150.0 million of our outstanding shares of common stock (the “Program”). Since inception of the Program, we have been authorized to repurchase up to an aggregate of $1,700.0 million of our outstanding shares of common stock through December 31, 2026. We had $639.8 million remaining under the Board’s repurchase authorization as of March 31, 2025.

Repurchases of our common stock under the Program may be made through open market, block and privately negotiated transactions, including Rule 10b5-1 plans, at such times and in such amounts as management deems appropriate, subject to market and business conditions, regulatory requirements and other factors. The Program does not obligate AWI to repurchase any particular amount of common stock and may be suspended or discontinued at any time without notice.

During the three months ended March 31, 2025, we repurchased 0.1 million shares under the Program for a total cost of $22.0 million, excluding commissions and taxes, or an average price of $146.79 per share. Since inception, we have repurchased 14.8 million shares under the Program for a total cost of $1,060.2 million, excluding commissions and taxes, or an average price of $71.66 per share.

Dividends

In February 2025, our Board of Directors declared a $0.308 per share quarterly dividend, which was paid to shareholders in March 2025. On April 23, 2025, our Board of Directors declared a $0.308 per share quarterly dividend to be paid in May 2025.

Accumulated Other Comprehensive (Loss)

	Foreign Currency Translation Adjustments (1)			Derivative  (Loss) (1) (2)			Pension and Postretirement Adjustments (1)			Total Accumulated Other Comprehensive (Loss) (1) (2)
Balance, December 31, 2024	$	(2.2	)	$	(1.1	)	$	(106.9	)	$	(110.2	)
Other comprehensive income (loss) before reclassifications,    net of tax (expense) benefit of ($0.1), $0.3, $- and $0.2		0.3			(1.2	)		-			(0.9	)
Amounts reclassified from accumulated other    comprehensive (loss)		-			(0.3	)		0.6			0.3
Net current period other comprehensive income (loss)		0.3			(1.5	)		0.6			(0.6	)
Balance, March 31, 2025	$	(1.9	)	$	(2.6	)	$	(106.3	)	$	(110.8	)

	Foreign Currency Translation Adjustments (1)			Derivative Gain (Loss) (1) (2)			Pension and Postretirement Adjustments (1) (2)			Total Accumulated Other Comprehensive (Loss) (1) (2)
Balance, December 31, 2023	$	1.0		$	0.5		$	(106.2	)	$	(104.7	)
Other comprehensive (loss) income before reclassifications,    net of tax benefit (expense) of $0.1, ($0.7), $- and ($0.6)		(0.8	)		2.2			-			1.4
Amounts reclassified from accumulated other    comprehensive (loss)		-			(1.7	)		(0.6	)		(2.3	)
Net current period other comprehensive (loss) income		(0.8	)		0.5			(0.6	)		(0.9	)
Balance, March 31, 2024	$	0.2		$	1.0		$	(106.8	)	$	(105.6	)

(1) Amounts are net of tax.

(2) Amounts include our 50% share of AOCI components from our WAVE joint venture.

	Amounts Reclassified from Accumulated Other Comprehensive (Loss)						Affected Line Item in the Condensed Consolidated Statements of Earnings and Comprehensive Income
	Three Months Ended March 31,
	2025			2024
Derivative Adjustments:
Interest rate swap contracts, before tax	$	(0.4	)	$	(2.1	)	Interest expense
Tax impact		0.1			0.4		Income tax expense
Total (income), net of tax		(0.3	)		(1.7	)
Pension and Postretirement Adjustments:
Amortization of prior service credit		-			(0.1	)	Other non-operating (income), net
Amortization of net actuarial loss (gain)		0.9			(0.8	)	Other non-operating (income), net
Total loss (income), before tax		0.9			(0.9	)
Tax impact		(0.3	)		0.3		Income tax expense
Total loss (income), net of tax		0.6			(0.6	)
Total reclassifications for the period	$	0.3		$	(2.3	)